Iraq Hormuz Shipments Drop to 10 M Barrels

Iraq’s crude exports via the Strait of Hormuz fell to 10 million barrels in April, down from ~93 million barrels pre‑conflict.
Minister Basim Mohammed said overland pipeline now ships 200,000 barrels through Ceyhan, targeting 500,000 barrels soon.
Brent rose 1.2% to $83.80 and WTI 1.4% to $79.50 as OPEC+ voluntary cuts of 2.2 million bpd support prices.
Despite the Fed‑driven high‑interest backdrop, Asian physical crude buying remains strong, offsetting global growth concerns.